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Why EMIR Assurance (Accuracy, Completeness and EnO Analytics) Is Now Critical for Asset Managers

by adminin Uncategorizedon Posted on

EMIR Refit

Regulatory reporting has always been a key compliance requirement for asset managers. However, with evolving obligations and the increasing complexity of EMIR Refit, ensuring accuracy, completeness, and effective Exception & Omission (EnO) analytics is no longer optional – it’s essential. Stricter compliance standards demand a proactive approach to reporting, minimising errors, and avoiding regulatory breaches that could result in fines or reputational damage. It is especially important for asset management, as many asset managers delegate their reporting business responsibility of accurate and comlpete reporting is still with asset manager (ERR – Entity Responsible for Reporting) so having robust control and oversight is critical.

Key Assurance requirements specified in Guideline documents are: 

  • Firms should conduct regular accuracy and completeness checks post submission [See 4.18 Reporting of valuations – para 274]
  • Firms should perform errors and omission analytics to quickly identify and resolve discrepancies and if a threshold breach happens then submit and errors andomission form [ See 4.29 Ensuring data quality by counterparties – para 388]
  • Seamless updates to reflect EMIR Refit and future regulatory changes in oversight and control framework

How Reg-X Helps Asset Managers Stay Compliant

At Reg-X Innovations, we specialise in simplifying the regulatory assurance processes for asset managers. Our industry-leading regulatory reporting and assurance software is designed to deliver accuracy, completeness, and powerful EnO analytics for EMIR Refit – all in one platform.

With Reg-X, you gain:

  • RegAssure Accuracy – Testing every field of the EMIR report to identify errors in reporting
  • RegAssure Completeness – Reconciliations of front office books and records with Trade Repository data
  • RegAssure EnO Analytics – Real time monitoring of breaches in EMIR Reporting and 
  • Regulatory Operations outsourcing solutions, relieving internal teams of operational burden
  • Scalable, adaptable software, analytics dashboard ready for ongoing EMIR Refit updates and other regulations

Our solutions enhance reporting accuracy while ensuring clear, auditable trails to meet regulatory requirements. As the financial industry moves toward greater transparency and stricter compliance, asset managers must reassess their reporting strategies to avoid costly errors, breaches, and reputational risks.

The Growing Complexity of EMIR Reporting

EMIR (European Market Infrastructure Regulation) was introduced to improve the stability and transparency of derivatives markets. However, the latest updates, especially EMIR Refit, have added significant complexity.

Asset managers now face:

  • Higher operational costs due to increasing compliance demands
  • Tight deadlines, leaving minimal room for manual processes
  • Increased risk of reporting breaches, leading to fines and regulatory scrutiny

Regulators use this data to support investor protection, systemic risk monitoring, and market abuse detection, making timely, accurate and complete reporting critical.

Why Accuracy, Completeness, and EnO Analytics Matter

Accuracy and completeness are crucial in EMIR regulatory reporting, as errors, omissions, and data inconsistencies can pose significant risks. Proactive Errors and Omission (EnO) analytics is essential for identifying and addressing these issues after submission and notifying regulators of any threshold breaches

Without the right controls in place:

  • Incomplete data may result in false reporting
  • Inaccurate submissions could attract regulatory penalties
  • Undetected exceptions may escalate into systemic compliance failures

Asset managers must ensure that every trade is reported correctly and on time, while being prepared to demonstrate compliance to regulators when required.

The Role of Operations Outsourcing and Regulatory Reporting Software

Given the challenges, many asset managers are moving towards operations outsourcing and advanced regulatory reporting software. These solutions provide efficiency, accuracy, and scalability.

Take Control of Your EMIR Reporting Today

In the evolving regulatory landscape, maintaining accuracy, completeness, and control in EMIR reporting is crucial. Avoid the risks associated with increasing regulatory complexity.

 

Reach out to Reg-X Innovations today to learn how our regulatory reporting software and compliance outsourcing solutions can streamline your reporting obligations and ensure compliance.